Extending the fundraising period can provide additional room to fundraise in case a fund does not expect to achieve its stated fundraising target within the originally scheduled fundraising period.

This measure should not be taken lightly, though, and it would be advisable to discuss such decisions with an LPAC or a majority of LPs. It’s important to note that extending the fundraising period may warrant examining the management fee schedule (should additional work be required upfront). 

LPs may push back if they perceive that LPs admitted outside of the original fundraising period will receive preferential treatment. They may also believe that extending the fundraising period signals an inability of the fund manager to raise money.